Holoride, the Audi spinoff that’s creating an in-vehicle XR passenger entertainment experience, is deploying blockchain technology and NFTs as the next stage in its preparation for a 2022 market launch.
The company, which closed a $12 million Series A in April, announced it would be integrating Elrond blockchain into its tech stack to bring transparency to its ecosystem of car manufacturers and content creators. Holoride hopes to use NFTs, or non-fungible tokens, to incentivize developers into creating more content on holoride’s platform for the promise of more money earned off token purchases, and to attract passengers who want to personalize their in-car experience.
Blockchain… NFTs… is holoride just trying to be internet trendy? Maybe, but the blockchain integration at least has been in the works for the past year, says holoride CEO and founder Nils Wollny.
Holoride’s immersive in-vehicle media platform doesn’t need blockchain to function. Its passenger experiences sync to the real-time motion and location-based data of the vehicle, so content adjusts to vehicle motion (meaning no motion sickness!). Where blockchain plays a role is to help holoride fairly and transparently distribute content and compensate developers based on user engagement time and value distribution.
“We said we want to connect all our ecosystem partners in a very fair and transparent manner from the beginning, and blockchain technology delivers exactly on that,” Wollny told TechCrunch. “Every transaction and engagement can be stored in the blockchain. For car manufacturers, they can see how much time was spent with holoride experiences